Legislature approves Sales Tax Holiday
By Shawn on Jul 23, 2008 in Events, Massachusetts
According to the Eagle Tribune, both the state House of Representatives and Senate have voted in favor of a sales tax holiday weekend for August 16 and 17. The governor is expected to sign it as well.
In a vote of 139-15 in the House, and 31-6 in the Senate they voted to suspend sales tax on items up to $2500.00 (excluding cars, boats, tobacco products, meals, utilities and telephone services).
This weekend usually becomes a big shopping weekend for many throughout the state (those of us on the border are not impacted as much).
The article states that the holiday for this year had appeared dead, until Speaker of the House Sal DiMasi changed his position on it this week (after a positive June tax revenue report).
From Massachusetts Law Updates on Mass.gov
While the benefit is more psychological than financial (even a 5% off sale on another day results in a lower overall cost to the consumer), the holiday does boost sales of retailers considerably. “’Sales this weekend will be comparable to the weekend before Christmas (approximately $500 million is taxed & non-taxed retail sector sales), at a time that otherwise stores would be dead,’ said President of Retailers Association of Massachusetts Jon B. Hurst,” in the Westborough News.
Tags: Sales Tax
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